Boeing and Airbus square off at the 2013 Paris Air Show.
Fabrice Dimier | Bloomberg | Getty Images
The U.S. and the European union will suspend tariffs for four months tied to a long-running dispute over illegal subsidies for Boeing and Airbus, the president of the European Commission said Friday.
The agreement is a step toward resolving the 17-year dispute that has led to retaliatory tariffs on billions of dollars of goods affecting a range of exports from both sides of the Atlantic. It comes a day after the U.S. and U.K. also agreed to a four-month pause on tariffs tied to the dispute.
European Commission President Ursula von der Leyen said she spoke with U.S. President Joe Biden about the…